That's why we deposit money into escrow, so that such situations would not arise, but at some point we will completely abandon third party providers. We had to use them only because we had TOO MANY transactions. Please remember that SageSwap began acquiring its first transactions on December 4! And we were prepared for 4/5 times fewer transactions.
This is what they agreed to, otherwise we would not have started working with them.
I know some of you may be disappointed, but unfortunately you forced us to do this
We weren't prepared for such a large number of transactions, and it really was a lot. I look at the transparency reports of other swap services and maybe one or two of them had so many transactions in their first month.
We can guarantee that you will never be subject to KYC or freezing of funds. If you are afraid, simply exchange amounts up to $2000, which is the amount of our escrow deposit.
I have to ask. The amount that Tervoid received from you is only 16 USDT. I assume that the use of a third party in this case is not due to a lack of liquidity. I come to the conclusion that the system was not able to independently handle a large number of orders at the same time. Am I right?
How will you solve this in the future?
Currently, about 90% of transactions go through our systems and only 10% through third parties. We try to exchange Bitcoin, Monero, Ethereum, and other major cryptocurrencies ourselves, but when it comes to USDT/USDC, we usually leave it to our partners. Of course, we are not always able to exchange Bitcoin or other major crypto ourselves especially if there is a large number of transactions in the same time, but we usually do.
In the future, we plan to expand our infrastructure further. As I mentioned earlier, we were not ready for such a high level of interest in our project and the number of exchanges, which is why sometimes there are delays, as mentioned in a few threads above
We were supposed to deposit the escrow only after the new year, when our API was supposed to be released, but because we decided to use partners, we decided to do it NOW and update our FAQ. At the time Trevoid made his post, our FAQ had already been updated for over a day with the information that some transactions may be processed by our partners.
Q: Do you have your own reserves and infrastructure?
A: Yes, we have our own coin reserves and our own infrastructure. However, if we are unable to process the transaction, we may use third parties.
